Let X equals the number of units produced of product A and Y the number of units of product B.
Given Product A requires 3 ponds of the raw material and product B 4 pounds.
Hence, Number of pounds required to produce X units of product A = 3X
and Number of pounds required to produce Y units of product B = 4Y
Hence the equation which states that total raw material used each week equals 2,400 pounds is 3X + 4Y = 2400.
"\\implies Y = \\frac{2400-3X}{4} \\\\\n\\implies Y = - \\frac{3}{4} X + 600" .
Hence, the equation in slope-intercept form is "Y = -\\frac{3}{4}X+600" where slope is "-\\frac{3}{4}" and Y-intercept is 600.
It means 600 units of product B alone is required to produce 2400 pounds.
Since slope is negative, as X increases, Y decreases.
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The demand function for a firm’s product is q=150000-75p Where q equals the numbers of units demanded and p equals the price in dollars. Determine the price which should be charged to maximize total revenue. What is maximum value for total revenue How many units are expected to be demanded?
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